Coca-Cola (NYSE:KO) Trading Up 3.3% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s stock price rose 3.3% on Thursday . The stock traded as high as $73.86 and last traded at $73.70. Approximately 8,687,289 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 14,926,409 shares. The stock had previously closed at $71.33.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Trading Down 4.5 %

The firm’s 50 day simple moving average is $68.72 and its 200-day simple moving average is $66.45. The company has a market capitalization of $300.67 billion, a PE ratio of 28.29, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by insiders.

Institutional Trading of Coca-Cola

Hedge funds have recently made changes to their positions in the stock. Exeter Financial LLC boosted its holdings in shares of Coca-Cola by 2.7% during the first quarter. Exeter Financial LLC now owns 27,371 shares of the company’s stock valued at $1,960,000 after acquiring an additional 710 shares during the period. Quent Capital LLC boosted its stake in Coca-Cola by 9.6% during the 1st quarter. Quent Capital LLC now owns 14,978 shares of the company’s stock valued at $1,073,000 after purchasing an additional 1,312 shares during the period. Moody National Bank Trust Division grew its position in Coca-Cola by 1.3% in the 1st quarter. Moody National Bank Trust Division now owns 56,458 shares of the company’s stock worth $4,044,000 after purchasing an additional 743 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Coca-Cola by 31.6% during the first quarter. Versant Capital Management Inc now owns 11,408 shares of the company’s stock valued at $817,000 after buying an additional 2,737 shares during the last quarter. Finally, Hiley Hunt Wealth Management acquired a new position in shares of Coca-Cola during the first quarter worth approximately $223,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.